The Central Government has approved the New Guidelines of Central Sector Scheme “Promotion of MSMEs in North Eastern Region and Sikkim”. The scheme will be implemented during the 15th Finance Commission Cycle (2021-22 to 2025-26). The Scheme is envisaged to provide financial support for enhancing the productivity and competitiveness as well as capacity building of Micro, Small and Medium Enterprises (MSMEs) in the NER and Sikkim. The scheme has following components;
1. Setting up of new and modernization of existing Mini Technology Centres:
The Scheme envisages financial assistance to State Governments for setting up new and modernization of existing Mini Technology Centres. Projects for creation of common facilities to supplement manufacturing, testing, packaging, R&D, product and process innovations and training for natural resources such as fruits, spices, agriculture, forestry, sericulture and bamboo etc. available in NER and Sikkim would be given priority. The financial assistance of Central Government will be 90%. The projects with total project cost more than Rs. 15.00 crore, will also be considered but maximum assistance shall be limited to Rs. 13.50 crore.
2. Development of new and existing Industrial Estates:
Central Government financial assistance will be provided for development of new and existing Industrial Estates, Flatted Factory Complexes. The financial assistance of Government will be 90%. The maximum project cost for calculation of assistance shall be Rs.15.00 Crore for development of new industrial estate whereas Rs.10.00 crore for development of existing Industrial Estate. The projects with total project cost more than Rs.10.00/15.00 crore, will also be considered but maximum assistance shall be limited to Rs. 9.00/13.50 crore as the case may be.
3. Development of Tourism Sector:
The projects for creation of common services such as kitchen, bakery, laundry & dry cleaning, refrigeration and cold storage, IT infra, potable water, display centre for local products, centre for cultural activities etc. in a cluster of home stays may be considered under the scheme. There has to be linkages of projects with local MSEs. The financial assistance of Central Government will be 90% for projects with maximum assistance limited to Rs. 4.50 crore.
The new guidelines of the scheme are available on the website of the office – https://www.dcmsme.gov.in/
The Press Release can be accessed at: https://www.pib.gov.in/PressReleasePage.aspx?PRID=1830484
We have recently released the 7th Edition (May, 2022) of our book on Goods and Services Tax, titled, “GST LAW AND COMMENTARY – WITH ANALYSIS AND PROCEDURES”, updated with the Finance Act, 2022 in a set of 4 Volumes. We thank you all for the support and your enduring response.
Have a look at the complete tour of the Book at: https://cutt.ly/nF6O0oN
Order your copy now and be a part of the GST learning excursion in the most comprehensive and lucid form !!
For more details and purchase online at: https://cutt.ly/RFMox8D